How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Law Pro Your Own Question
Law Pro
Law Pro, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 24870
Experience:  20 years experience in consumer advocacy, debt collection violations, contracts, construction
Type Your Consumer Protection Law Question Here...
Law Pro is online now
A new question is answered every 9 seconds

A friend of mine bought a new Harley Davidson 3 years ago at

This answer was rated:

A friend of mine bought a new Harley Davidson 3 years ago at age 18 and his dad cosigned for the financing around $17,000. He was really taken advantage of by the dealer. Paid way too much and very high interest rate for seven years. He wants to give it back to the bank but can't due to his dad's cosigning loan. Any advice? Thank you

Welcome to JustAnswer! My goal is to do my very best to understand your situation and to provide a full and complete excellent answer for you.

My name is XXXXX XXXXX I'm going to assist you with your question.

Please bear with me if you believe my answer isn’t coming fast enough because I’m also working with other customers too. I apologize for any seemingly late response.

That's actually the worse option - to turn it back in or walk away because they will sell the bike and sue him for the deficiency and get a deficiency judgment.

The deficiency would be the difference between what the bike sold at auction and the loan balance plus repossession and auction fees, etc. They then reduce the deficiency to a judgment and pursue his father for the monies.

Too, most likely they would sell to some 3rd party whom they knew at a low-ball price so the deficiency would be extremely high.

So that's the last alternative he wants to take.

My advice would be to sell the bike for as much as possible and negotiate with his father as to paying the difference between the sales price and loan balance and make installment payments to him for such.

Another option is to get unsecured loan if a bank will loan him the difference.

But those are his only alternatives other than letting them auction the bike off cheap and then paying the difference.

If they get a judgment:

A money judgment obtained in the State of Arizona is generally enforceable for a period of five (5) years. The judgment may, however, be renewed by affidavit or process pursuant to ARS 12-1612 or an action is brought on it within five years from the date of the entry of the judgment or of its renewal. (ARS 12-1551). In general, all property, real and personal, not exempt by law, and all property and rights of property seized and held under attachment or garnishment in an action, are liable to execution of a judgment. (ARS 12-1558.) Arizona law permits the garnishment of wages. However, the maximum amount of a debtor's disposable earnings for any workweek which is subject to process may not exceed twenty-five per cent (25%) of disposable earnings for that week, or the amount by which disposable earnings for that week exceed thirty times the minimum hourly wage prescribed by federal law in effect at the time the earnings are payable, whichever is less. (ARS 12-1598, et seq., 33-1131.)

Generally, a judgment may become a lien for a period of five years from the date it is given, upon all real property of the judgment debtor except real property exempt from execution, in the county where the judgment is recorded, whether the property is then owned by the judgment debtor or is later acquired. A recorded judgment, however, may not become a lien upon any homestead property. Any person entitled to a homestead on real property as provided by law generally holds the homestead property free and clear of the judgment lien. (ARS 33-964.)


So, I would see who he can sell it to for as much or as near the loan balance.


I am truly sorry to give you this bad news, but please understand that it would be unfair to you (and unprofessional of me) to provide you with anything less than an honest response. However, if your concerns were not satisfactorily addressed, then please let me know, and I will be happy to clarify my answer. I do ask that you rate me based upon whether I answered your question, and not based upon whether the answer was good news or bad news. Your positive feedback is greatly appreciated. Thank you for using our service!

Law Pro and other Consumer Protection Law Specialists are ready to help you